Russian leader tells Palestinian counterpart Moscow prepared to fund Gaza with $1 billion video

Russian President Vladimir Putin and President of the State of Palestine Mahmoud Abbas have begun talks at the Kremlin, according to the Russian presidential press service.

During the meeting, Putin confirmed Russia’s readiness to provide substantial financial support through the newly established “Board of Peace,” emphasising that the funds would be used primarily to assist the Palestinian people.

“We are ready to allocate one billion dollars to the new structure, the ‘Board of Peace’, first and foremost in order to support the Palestinian people, to direct these funds toward the reconstruction of the Gaza Strip and the resolution of Palestine’s problems. As I have already said, this would come from the funds that were frozen in the United States under the previous administration. I believe this is entirely possible,” Vladimir Putin said during the talks.

The Board of Peace originated from the US president’s 20-point Gaza ceasefire plan, which was endorsed by the United Nations Security Council, but has since expanded well beyond its original scope.

US President Donald Trump formally launched the initiative on January 22 in Davos, where he signed the charter establishing what he called the “Board of Peace.” Describing the moment as a milestone, Trump said it was a “very exciting day, long in the making.”

“We're going to have peace in the world,” Trump announced. “And we're all stars.”

In his opening speech, Trump reflected on the state of global affairs over the past year. “Just one year ago the world was actually on fire, a lot of people didn't know it,” he said, adding that “many good things are happening” and that threats around the world “are really calming down.”

Trump has previously described the newly created body as potentially the “most prestigious board ever formed.” While the initiative grew out of the Gaza ceasefire framework approved by the UN Security Council, its ambitions have since broadened significantly.

According to officials from the Trump administration, around 35 countries have already committed to joining the board, while approximately 60 nations have received invitations. Trump suggested that the body could eventually take over functions traditionally performed by the United Nations or even render the organisation obsolete.

He also noted that some national leaders required parliamentary approval before formally committing to participation, while several countries that were not initially invited have since asked to be included.

At the same time, a number of European allies declined to join the initiative. Norway, Sweden and France rejected their invitations, with French officials expressing concern that the board could supplant the United Nations as the primary global forum for conflict resolution, while reaffirming their support for the Gaza peace plan itself.

By Tamilla Hasanova